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Bill Fleckenstein, does not have much faith in the people in charge of the Fed. He went as far as to call them “idiots who never saw anything coming.” Fleckenstein had some choice words for Bernanke and the rest of the Fed this afternoon.From King World News:
They basically said, ‘We’re going to keep doing what we’re doing because we kind of think it’s working and we don’t think we have to do too much anymore.’ Then he (Bernanke) comes out in the press conference and says, ‘But if we have to, we will.’
So, now if the economic data hits them over the head or Europe goes down a rathole, when that happens I should say, they’ll do something. Meanwhile they are patting themselves on the back for the great job they have done so far.
They don’t know anything. They’re idiots. They are the cause of the problem. So why do we want to know what the idiots think about about the current state of the economy? Why do we care that they currently think they are so smart and that everything is OK? You know what I was doing while all of this was going on? I was out playing tennis.
Read more at KingWorldNews.com.
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